What is a purchase return, Basic Statistics

 

 

What is a purchase return?

A buy purchase return occurs when a buyer profits products that it has bought from a provider.

Under the regular inventory system, the cost of the products that was returned is recorded as 1) a credit score to the common journal consideration Purchase Returns or the consideration Purchase Returns and Considerations, and 2) a charge to Records Due. (The supplier/seller will record the purchase return with a charge to Sales Returns and a credit score to Records Receivable.)

The credit score stability in the Purchase Returns consideration will partially offset the charge stability in the consideration Purchases.

Since the purchase return of bought products is time intensive (and therefore costly), having the separate common journal consideration Purchase Returns allows managers to quickly see the value of the profits.

Expertsmind.com offers unique accounting assignment help

 

Posted Date: 3/31/2012 7:58:17 AM | Location : United States







Related Discussions:- What is a purchase return, Assignment Help, Ask Question on What is a purchase return, Get Answer, Expert's Help, What is a purchase return Discussions

Write discussion on What is a purchase return
Your posts are moderated
Related Questions
a company has two processes whose details are as follows: Materials 3000kg @ k0.30/kg, labour K120 for process 1 and material 2000kg @ k0.40/kg and labour k84 for process 2. actual

how can i get a free software to run a kolmogorov test?

normal distribution and the sampling distributions of sample proportions and sample means, but without confidence interval

what are the characteristics of schedules


Use of Assets A potential upcoming financial advantage acquired or managed by a particular business due to past purchases or activities. These financial options can be concrete or

Advantages of sampling over population

IN two separate studies, the actual difference between the means of a treated group and untreated group is 3 points. However, in one study sm1-m2 is very large and so the 3 points

what is the largest coefficient of (1+3x)^4 is ?

Bond Relationship A debt gadget issued through a official or just the formal legal procedure and secured either by the pledge of detailed properties or revenues or by the general